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Exam Authority	Indian Institute of Banking and Finance (IIBF)
Name of Exam	IIBF BC/ BF
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All the time opening an account, banks advise the customers to indicate the nominee to whom amounts are payable in the event of the death of depositors. Which one of the following statements is correct regarding nomination? (Select the most appropriate option from the following).

The amounts laying in the account are transferred to the nominee after obtaining the legal heir status.
For a single deposit account, there may be more than one nominee and the outstanding balance is distributed by the bank as per the ratio advised by the deceased account holder.
Nomination can be made in favour of legal entities also i.e. associations, trusts, Companies etc.
A single depositor may nominate a person to whom in the event of the death of the depositor the amount to his credit may be paid by the banking company.

>>What is the minimum deposit required to open a BSBD account?

Rs.100/-

Rs.500/-

Rs.1000/-

No minimum deposit required

Banks issue demand drafts (DD) on customers’ requests for the purpose of remittance of funds to third-party beneficiaries. Banks should ensure that demand drafts of ——- and above are issued invariably with account payee crossing. (Select the most appropriate option from the following).

Rs. 15,000
Rs. 20,000
Rs. 50,000
Rs. 10,000

Under which one of the following bodies is the Banking Ombudsman Scheme implemented for the redressal of customers’ grievances? (Select the most appropriate option from the following).

RBI
Ministry of Finance
Bank’s Central Offices
State Governments

Bank A sanctioned and disbursed a sum of Rs. 25,000 on 1/4/20XX. It charges 9% interest on the account on quarterly bases. The amount of interest to be charged to the account on 30/06/20XX would be (Select the most appropriate option from among the following).

Rs. 2,250
Rs. 600
Rs. 563
None of the above

An NRI ——- a PPF account. (Select the most appropriate option from the following).

Cannot open
Can open
Can open provided the deposits in the account are made in foreign currency
Can open but he/ she will get SB interest rate

To trace the money laundering activity, the general stages, in sequence are observed so that the money appears legitimate at the last stage. Which one of the following correct sequence of money laundering? (Select the most appropriate option from the following).

Layering, Placement, Integration
Placement, Integration, Layering
Placement, Layering, Integration
Integration, Disposal, Layering

When a customer deposits money by opening an account with a bank, the relationship between the bank and his customer is that of ——– (Select the most appropriate option from the following).

Creditor – Debtor
Debtor-Creditor
Bailee – Bailer
Lessor – Lessee

The educational Loan Scheme of banks aims at providing financial support to students for pursuing higher education in India and abroad. Which of the following expenses are not considered while arriving at the Educational Loan Amount? (Select the most appropriate option from the following).

College/ courses fees i.e. examination fees, Hostel charges
Cost of books, equipment, computer/laptop etc.
Travel expenses for students in India, mess charges, and out-of-pocket expenses essential for studies
Life insurance premium for life cover of student borrower, if applicable

When a customer avails an overdraft/loan from the bank, the relationship between the bank and his customer is that of ———- (Select the most appropriate option from the following).

Trustee – Beneficiary
Debtor-Creditor
Creditor – Debtor
Bailee – Bailer

Which of the following salient features of the Basic Savings Bank Deposit Account (BSBDA) are correct? (i) A kind of Demand deposit opened to extend normal banking facilities with no minimum balance, no bank charges and with ATM (Debit) card facility. (ii) Withdrawl from this account, including through ATM, in a month, is restricted (ii) KYC and other CDD (Customer due diligence) norms are followed at the time of opening of the BSBD account. (iv) While opening BSBDA, no other Saving Bank Account will be permitted to be maintained in the bank. If there is any other SB account, the same is to be closed within 30 days. (Select the most appropriate option from the following).

Only (ii), (iii) and (iv)
Only (i), (ii) and (iv)
Only (i) and (ii)
(i), (ii), (iii) and (iv)

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Q.1 Which of the following definitions is most correct? UCPDC 500 is:
Ans. Set Of Rules Framed by ICC governing LC business Globally.

Q.2 Currency notes are issued by
Ans. RBI

Q.3 Bank does not give loans against
Ans. lottery ticket

Q.4 Bank having maximum number Of Branches in India
Ans. State Bank Of India

Q.5 100/- Rupee note is signed by
Ans. RBI Governor

Q.6 Who is the Present Governor Of RBI
Ans. Shaktikanta Das

Q.7 E Or S Means
Ans. Either or Survivor

Q.8 Bank does not provide loans for
Ans. Drinking & Gambling

Q.9 KYC Means
Ans. Know your Customer

Q.10 PPF means
Ans. Public Provident Fund

Q.11 Coins are issued by
Ans. Government Of India

Q.12 The Modern Bank Ltd., should have a minimum Of Rs– Crores as Tier I Capital at the rate of

minimum Of % respectively as per RBI guidelines applicable to Indian Banks.
Ans. 2700,4.50%

Q.13 Which Of the following statement is correct?
Ans. Foreign Exchange markets are dynamic and round-the-clock markets.

Q.14 If the market quotes USD/INR as 43.61/63, at what rate can you buy USD at the given quote:
Ans. 43.63

Q.15 Bank does not give loans against
Ans. lottery ticket

Q.16 A correspondent in Japan wants to fund his Vostro account for Rs 10.00 million. At USD/INR at

63.56/57 and JPY at 109.60/70, how much JPY should the correspondent pay into your Nostro

account with him, assuming no margins are loaded:
Ans. 251762

Q.17 Minimum age required to open SB account in the bank
Ans. 10 Years

Q.18 Highest denomination of currency notes issued by RBI is
Ans. Rs. 1,000/-

Q.19 NRI Means
Ans. Non-Resident Indian

Q.20 PAN Means
Ans. Permanent Account Number

Q.21 Who is the present Union Finance Minister Of India?
Ans. Nirmala Sitharaman

Q.22 Business Correspondent means
Ans. An agent who provides Banking Services

Q.23 Internet banking refers to
Ans. Operation Of account through internet

Q.24 Nomination Once done Can
Ans. Be Canceled

Q.25 What is the amount of Overdraft Facility Sanctioned Under PMJDY is Classified as MUDRA loans

under PMMY?
Ans. 5,000/-

Q.26 The loans Sanctioned By banks / NBFCs / MFIs on or after ——up to, 10 lacs for Small Business

income-derived activities are Known as PMMY loans.
Ans. 08-Apr-15

Q27. Who is eligible to get the MUDRA Loans under PMMY out of the following borrowers?
Ans. Small fruit vendors, vegetable sellers, etc.

Q.28 ATM means
Ans. Automated Teller Machine

Q.29 PMMY Loan is given for which purpose?
Ans. Income Generation Purpose

Q.30 What are the Collateral/securities to be kept with banks for getting loans for MSE under

PMMY?
Ans. NIL

Q.31 From where the PMMY loan can be availed?
Ans. Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks,

Q.32 What is the role Of Mudra under PMMY loans?
Ans. Acts as a Refinance Agency and Refinances to all banks, NBFCs, MFIs for onward lending to

customers under different categories of PMMY loans, as per need of the customer.

Q.33 The borrowers can avail of the credit in a hassle-free and flexible manner with the MUDRA

CARD which is a—–
Ans. Debit Card with a Sanctioned limit

Q.34 MUDRA Card is a debit card on which payment platform?
Ans.Rupay

Q.35 Who issues the MUDRA Card to a customer?
Ans. Banks either directly or in association with MFLs

Q.36 PMMY loans are applicable to—–?
Ans. all banks all over India

Q.37 PPMY Loans are provided for what Tenure?
Ans. Depends on the Cash flows of the business and is decided by the lending Institution

Q.38 What are the Interest rates of the PMMY loans extended by Banks, NBFCs, MFLs to the

borrowers?
Ans. Reasonable rates decided by lending banks, NBFCs, MFLs that should fall within the overall RBI

Guidelines

Q.39 Where are the Frequently Asked Question (FAQs) on PMMY Loans available for the information

of the Lending Institutions/public?
Ans. MUDRA website

Q.40 Who monitors the Implementation of PMMY progress at the National level?
Ans. MUDRA / Department of Financial Service

Q.41 Sample Project Profiles for running or setting up of micro/small enterprises is available at——-
Ans. MUDRA Website

Q.42 MUDRA has been set up by whom?
Ans. Government Of India

Q.43 Maximum amount of Check
Ans. No limit

Q.44 Pan Number is required for
Ans. Deposit Rs.50,000/- & above

Q.45 TDS means
Ans. Tax Deducted at Source

Q.46 What is the Purpose for which MUDRA loan can be availed for Carrying On any activity related

to——-?
Ans. Manufacturing, Processing, Trading, Services

Q.47 What does PMMY Stand For?
Ans. Pradhan Mantri Mudra Yojana

Q.48 Loan of ‘ 5 lacs is covered under which category?
Ans. Kishore

Q.49 How much loan can be availed under the “Shishu” category?
Ans. 50,000/-

Q.50 What is the maximum loan amount available under PMMY?
Ans. 10.00 lacs

Q.51 Life Insurance means
Ans. Insurance Of Human

Q.52 Defaulter Of Loan means
Ans. Not paying loan installments

Q.53 PMJDY LIC Insurance Of Rs.30,000/- is available for first-time accounts opened
Ans. Bet

Q.54 Under APY, Fixed Pension can be chosen from:
Ans. Rs. 1,000/-, Rs.2,000/-, Rs.4,000/-, Rs. 5,000/-

Q.55 Can an illiterate person be issued, Debit Card?
Ans. Yes

Q.56 Under PMSBY, partial disability claim is available for:
Ans. Rs. 1 lac

Q.57 Under PMSBY, an accidental death claim is available for:
Ans. Rs.2 lac

Q.58 What is the validity period of the check?
Ans. 3 months from the date of issue

Q.59 Which type of deposit earns a higher interest rate?
Ans. Fixed Deposit

Q.60 What is Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?
Ans. Covers life insurance up to Rs.2 lac

Q.61 What is Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
Ans. Accidental Insurance Cover

Q.62 What is the minimum deposit required while opening a BSBD Account?
Ans. No Minimum deposit required

Q.63 What is the maximum amount Of deposits acceptable in Small accounts?
Ans. Rs. 50,000/-

Q.64 Who is Bank Mitra?
Ans. Banking Correspondents engaged by Banks

Q.65 What is meant by Aadhaar Seeding?
Ans. Linking Of Aadhaar with Bank Account

Q.66 What is Direct Benefit Transfer?

Imp – CSC TEC Examination Latest Questions And Answers Key.
Ans. Transfer Of Social Benefits / Subsidies directly into Bank accounts of beneficiaries

Q.67 Maximum Tenure Of Fixed Deposit is
Ans. 10 Years

Q.68 As per Reserve Bank Of India directives the Minimum Capital Adequacy Ratio and minimum

Tier I Capital the Modern Bank is required to maintain as On 31.03.2007 should be—-respectively.
Ans. 9% and 4.5%

Q.69 Interest rate risk is a type of
Ans. Market risk

Q.70 If the Volatility per annum is 25% and the number of trading days per annum is 252, Find the

Volatility per day.
Ans. 1.58%

Q.71 Contents Of locker are
Ans. Only Known to the hirer

Q.72 Net Interest Income is
Ans. Difference between interest earned and interest paid

Q.73 MGNREGS Stands for
Ans. Mahatma Gandhi National Rural Employment Guarantee Scheme

Q.74 Interest On FDRs is Compounded on
Ans. Quarterly Basis

Q.75 Fixed Deposit Can
Ans. Withdrawn before maturity

Q.76 Upon detection Of a counterfeit note at the counter, Bank
Ans. Impound the Note and issue a receipt

Q.77 Mutilated notes
Ans. Can be exchanged at Bank
Q.78 Interest On Savings Bank Deposits are paid
Ans. Half-yearly
Q.79 Account payee checks can be paid

Ans. By deposit in Bank account
Q.80 Payment of check can be stopped by

Ans. Drawer of check
Q.81 Based on the Gross Income given above, the likely Capital Charge for Modern Bank Ltd., as of
March 31, 2007, to cover Operational Risk Under Basic Indicator Approach Shall be
Ans. 450 Crores
Q.82 The Modern Bank Ltd., Will require total Capital Funds For Covering Credit Risk. As of March
31, 2007, to Comply Based II norms Of Rs.—–Crores.
Ans. 5400 Crore
Q.83 All PMMY Loans will be governed by–, Formulated by MUDRA, in Consultation with DFS, rating
agencies, MFIN and Sa-Dhan, and Other Stakeholders For adoption by all the lending institutions.
Ans. MUDRA Loan Charter
Q.84 The Basel Committee has defined gross income as net interest income and plus net non-
interest income and has allowed each relevant national Supervisor to Define Gross Income in
accordance with the prevailing accounting practices. Accordingly, the Reserve Bank Of Indian in the
draft guidelines issued on 11.03.2005 for implementation Of the new Capital adequacy framework
has modified the Gross Income definition slightly. The Net Interest Income has been replaced by
Ans. Net Profit
IIBF Examination Latest Questions And Answers
Q.85 We should keep our savings with banks because
a) It is safe
b) Earn interest
c) Can be withdrawn anytime
d) All of above
Ans. All of above

Q.86 ATM password to be shared only with

a) Spouse
b) Obedient son
c) Obedient daughter
d) None of above
Ans. None of above

Q.87 Nomination can be done in

a) Savings Bank account
b) Recurring Deposit account
c) Fixed Deposit account
d) All of above
Ans. All of above

Q.88 is the logo of

a) Pradhan Mantri Jan Dhan Yojana
b) Central Bank of India
c) Reserve Bank of India
d) None of above

Q.89. Loans from money lenders are

a) With a High rate of interest
b) No proper accounting
c) No transparency
d) All of above

Q.90 Timely repayment of loans results

a) Good reputation
b) No tension
c) Easily availability of loan in future
d) All of above
Ans. d) All of above

Q.91 Defaulter of loan means

a) Not paying loan installations
b) bad reputation
c) Illegal activities
d) None of above
Ans. d) None of above

Q.92 General Insurance relates to insurance against

a) Fire
b) Theft
c) Burglary
d) All of above

Q.93 Aadhaar is

a) 12 digit number card
b) Identity proof issued by UIDAI
c) Both (a) & (b)
d) None of above
Ans. c) Both (a) & (b)

Q.94 Which is prohibited for writing on currency notes?

a) Political message
b) Religious message
c) Personal message
d) All of above
Ans. d) All of above

Q.95 PAN means

a) A kind of utensil
b) Primary Account Number
c) None of above
Ans. c) None of above

Q.96 Which currency note has a security thread?

a) Rs.50/-
b) Rs.100/- c) Rs.500/-
d) All of above

Q.97 Gold and silver ornaments should be kept in bank lockers

a) It is safe
b) No risk of theft
c) Both (a) & (b)
d)None of above
Ans. c) Both (a) & (b)

Q.98 Bank Pass Book is

a) Issued by Bank
b) Contains transaction details of Bank account
c) Shows balance in the account
d) All of above
Ans. d) All of above

Q.99 Education Loans

a) Cover tuition fees & expenses
b) Are repayable after completion of course
c) Granted for studies in India & abroad
d) All of above
Ans. d) All of above

Q.100 Who can open a bank account?

a) Indian citizen
b) Non Resident Indian
c) Illiterate
d) All of above
Ans. d) All of above

Q.101 Bank draft is issued by

a) Private Sector Banks
b) Regional Rural Banks
c) Public Sector Banks
d) All of above
Ans. d) All of above

Q.102 Self Help Group involves

a) Group of 5 to 20 people
b) Regular saving habits
c) Inter-lending within the group members
d) All of above
Ans. d) All of above

Q.103 Payment of check can be stopped by

a) Beneficiary
b) Nominee
c) Drawer of check
d) All of above
Ans. d) All of above

Q.104 While making a nomination, a signature of a nominee is required on

a) Account Opening Form
b) Nomination form
c) Affidavit
d) None of above
Ans. d) All of above

Q.105 ATM can be used for

a) Cash withdrawal
b) Account inquiry
c) Statement of account
d) All of above
Ans. d) All of above

1. We should keep our savings with
banks because
a) It is safe
b) Earns interest
c) Can be withdrawn anytime
d) All of above
2. Bank does not give loan against
a) Gold Ornaments
b) LIC policy
c) Lottery ticket
d) NSC
3. Bank having maximum number of
branches in India
a) Reserve Bank of India
b) State Bank of India
c) Punjab National Bank
d) Bank of Baroda
4. 100/- Rupee note is signed by
a) Prime Minister
b) Finance Minister
c) RBI Governor
d) None of above
5. ATM password should be kept in
a) Personal diary
b) Office diary
c) Memory
d) All of above
6. ATM password to be shared only
with
a) Spouse
b) Obedient son
c) Obedient daughter
d) None of above
7. Nomination can be done in
a) Savings Bank account
b) Recurring Deposit account

c) Fixed Deposit account
d) All of above

8. Who is the present Governor of RBI?
a) K.C. Chakrabarty
b) D K Mittal
c) Raghuram Rajan
d) Montek Singh Ahluwalia
9.PMJDY

a) Pradhan Mantri Jan Dhan Yojana
b) Central Bank of India
c) Reserve Bank of India
d) None of above
10. Minimum age required to open SB
account in the bank
a) 8 years
b) 10 years
c) 12 years
d) None of above
11. Bank does not provide loans for
a) Crop loans
b) Education loans
c) Home loans
d) Drinking & Gambling

iibf exam question and answer in english

12. KYC means
a) Know your customer
b) Know your character
c) Both of above
d) None of above
13. Loans from money lenders are
a) With High rate of interest
b) No proper accounting
c) No transparency
d) All of above

Multiple Choice Questions

14. ATM means
a) Any Time Money
b) Auto Truck of Mahindra
c) Automated Teller Machine
d) None of above
15. Timely repayment of loans results
a) Good reputation
b) No tension
c) Easily availability of loan in
future
d) All of above
16. Defaulter of loan means
a) Not paying loan instalments
b) Bad reputation
c) Illegal activities
d) None of above
17. Life insurance means
a) Insurance of human
b) Insurance of life of human
and Cattle
c) Insurance of Life of Machines
d) All of above
18. General Insurance relates to
insurance against
a) Fire
b) Theft
c) Burglary
d) All of above
19. Aadhaar is
a) 12 digit number card
b) Identity proof issued by
UIDAI
c) Both (a) & (b)
d) None of above
20. E or S means
a) East or South zone
b) Easy and Swift
c) Either or Survivor

d) None of above
21. Which is prohibited for writing on
currency notes?
a) Political message
b) Religious message
c) Personal message
d) All of above

22. PPF means
a) Pension Planning Funds
b) Person having Pension
Facilities
c) Public Provident Fund
d) Permanent Practitioner’s
Forum
23. Highest denomination of currency
notes issued by RBI is
a) Rs.100/-
b) Rs.500/-
c) Rs.1,000/-
d) Rs.10,000/-
24. NRI means
a) Non Rural Individuals
b) Non Rural Immigrants
c) Non Resident Indian
d) None of above
25. PAN means
a) A kind of utensil
b) Primary Account Number
c) Permanent Account Number
d) None of above

iibf exam question and answer in english

26. Who is the present Union Finance
Minister of India?
a) Shri Arun Jaitley
b) Shri Rajnath Singh
c) Shri Manohar Parrikar
d) Shri Suresh Prabhu

27. Bank provides loans for
a) Home
b) Car
c) Education
d) All of above
28. Which currency note has security
thread?
a) Rs.50/-
b) Rs.100/-
c) Rs.500/-
d) All of above

29. The safest place for keeping money
a) A pit dug in the ground
b) An iron box
c) Bank
d) Money lender
30. Gold and silver ornaments should be
kept in bank lockers
a) It is safe
b) No risk of theft
c) Both (a) & (b)
d) None of above
31. Currency notes are issued by
a) RBI
b) NABARD
c) Public sector banks
d) Central Government
32. Coins are issued by
a) Government of India
b) NABARD
c) Public sector banks
d) State Bank of India

33. Bank Pass Book is
a) Issued by Bank

b) Contains transaction details
of Bank account
c) Shows balance in account
d) All of above
34. Banks pays interest on
a) Deposits
b) Loans
c) Both (a) & (b)
d) None of above
35. Bank charges interest on
a) Deposits
b) Loans
c) Both (a) & (b)
d) None of above

iibf exam question and answer in english

36. Education Loans
a) Cover tuition fee & expenses
b) Are repayable after
completion of course
c) Granted for studies in India &
abroad
d) All of above
37. Business Correspondent means
a) An agent who provides
banking services
b) An agent of business house
c) A type of money lender
d) None of above
38. Internet banking refers to
a) Operation of account
through internet
b) Opening of account through
ATM
c) Both (a) & (b)
d) None of above
39. Nomination once done can
a) Not be cancelled

b) Be cancelled
c) Not be changed
d) None of above
40. Who can open bank account?
a) Indian citizen
b) Non Resident Indian
c) Illiterate
d) All of above
41. PAN number is required for
a) Deposits less than
Rs.50,000/-
b) Deposits in excess of Rs.1 lac
c) Deposits Rs.50,000/- &
above
d) All transactions
42. TDS means
a) Time Deposit Scheme
b) Total Deposit Scheme
c) Tax Deducted at Source
d) None of above

43. Maximum amount of Cheque
a) Rs.100 crore
b) No limit
c) Rs.1 crore
d) None of above

iibf exam question and answer

44. Bank draft is issued by
a) Private Sector Banks
b) Regional Rural Banks
c) Public Sector Banks
d) All of above
45. Self Help Group involves
a) Group of 5 to 20 people
b) Regular saving habits
c) Inter-lending within the
group members
d) All of above

46. Payment of cheque can be stopped by
a) Beneficiary
b) Nominee
c) Drawer of cheque
d) All of above
47. Account payee cheques can be paid
a) At cash counter of Bank
b) At ATM
c) By deposit in Bank account
d) None of above
48. In Recurring Deposits,
a) a fixed sum is deposited
every month
b) period of deposit is a fixed
tenure
c) interest is paid at FDR rate
d) All of above
49. While making nomination, signature
of nominee is required on
a) Account Opening Form
b) Nomination form
c) Affidavit
d) None of above

50. Interest on Savings Bank Deposits is paid
a) Every month
b) Quarterly
c) Half yearly
d) Yearly
51. Mutilated notes
a) should be burnt away
b) should be thrown away
c) can be exchanged at Bank
d) None of above

52. ATM can be used for
a) Cash withdrawal
b) Account enquiry
c) Statement of account
d) All of above
53. Upon detection of a counterfeit note
at the counter, Bank
a) Returns the note to the
customer
b) Exchange with a genuine
Note
c) Deposit in Account
d) Impound the Note and issue
receipt
54. Fixed Deposit can
a) not be withdrawn before
maturity
b) paid only after maturity
c) withdrawn before maturity
d) All of above
55. Interest on FDRs is compounded on
a) Monthly basis
b) Quarterly basis
c) Half yearly basis
d) Yearly basis
56. Contents of locker are
a) only known to hirer
b) known to Bank
c) Both (a) & (b)
d) None of above

57. If locker rent is not paid, Bank can
a) seal the locker
b) stop operation of locker
c) break open the locker after
giving suitable notice
d) All of above

58. MGNREGS stands for
a) Mahatma Gandhi National
Rural Employment
Generation Scheme
b) Mahatma Gandhi Nutrition &
Rural Employment
Generation Scheme
c) Mahatma Gandhi National
Rural Employment
Guarantee Scheme
d) None of above
59. Maximum tenure of Fixed Deposit is
a) 5 years
b) 7 years
c) 8 years
d) 10 years
60. What is RuPay Debit Card?
a) Domestic debit card
b) Introduced by National
Payments Corporation of
India
c) Accepted at all ATMs & PoS
machines
d) All of above
61. To whom Overdraft facility of
Rs.5,000/- in PMJDY Account is
available?
a) After 6 months of
satisfactory conduct of
account
b) One account per household
c) Customers in age group of
18-60 years
d) All of above
62. What is Direct Benefit Transfer?
a) Cash discount on goods
b) Remittance through Banks
c) Transfer of social benefits /
subsidies directly in Bank
accounts of beneficiaries

d) None of above
63. What is meant by Aadhaar seeding?
a) Linking of Aadhaar with Bank
account
b) Duplicate issuance of
Aadhaar
c) Transfer of Aadhaar
d) None of above

64. What are the benefits attached to
PMJDY?
a) Accident insurance cover of
Rs.1.00 lac
b) Life insurance cover of
Rs.30,000/-
c) Overdraft facility up to
Rs.5,000/-
d) All of above
65. Who can open an account under
PMJDY?
a) Minor above the age of 10
years
b) Only lady of the house
c) Only head of the family
d) All of above
66. Who is Bank Mitra?
a) Banking Correspondents
engaged by Banks
b) Valuable customer of Bank
c) Security guard in a branch
d) None of above

67. What is the maximum amount of
deposits acceptable in Small accounts?
a) Rs.30,000/-
b) Rs.40,000/-
c) Rs.50,000/-
d) None of above

68. What kinds of services are available
free in ‘Basic Savings Bank Deposit
Account’?
a) Receipt / credit of money
through NEFT / RTGS
b) No annual maintenance
charges on ATM-cum-Debit
card
c) 4 withdrawals in a month
(including ATM withdrawals)
d) All of above
69. What is the minimum deposit
required while opening a BSBD Account?
a) Rs.100/-
b) No minimum deposit
required
c) Rs.1,000/-
d) Rs.500/-
70 What is Atal Pension Yojana (APY)?
a) Provides social security to
the unorganized sector
b) Encourages workers to
voluntarily save for their retirement
c) Fixed pension is paid on
attaining age of 60 years
d) All of above

71. What is Pradhan Mantri Suraksha
Bima Yojana (PMSBY)?
a) Accidental insurance cover
b) Life insurance cover
c) Overdraft up to Rs.5,000/-
d) None of above

72. What is Pradhan Mantri Jivan Jyoti
Bima Yojana (PMJJBY)?
a) Covers life insurance up to
Rs.2 lac
b) Accident insurance cover

c) Both (a) & (b)
d) None of above
73. Which type of deposits earns higher
interest rate?
a) Current account
b) Savings Account
c) Fixed Deposits
d) None of above
74. Under PMSBY, accidental death
claim is available for:
a) Rs.1 lac
b) Rs.2 lac
c) Rs.3 lac
d) None of above
75. What is validity period of cheque?
a) 4 months from date of issue
b) 3 months from date of issue
c) 1 month from date of issue
d) Unlimited
76. Under PMSBY, partial disability claim
is available for:
a) Rs.50,000/-
b) Rs.1 lac
c) Rs.2 lac
d) None of above
77. Can illiterate person be issued Debit
card?
a) No
b) Yes
c) Only in case of joint account
d) Only in case he is head of
family

78. Under APY, fixed pension can be
chosen from:

a) Rs.1,000/-, Rs.2,000/-,
Rs.3,000/-, Rs.4,000/-, Rs.5,000/-
b) Rs.2,000/-, Rs.3,000/-,
Rs.4,000/-, Rs.5,000/-, Rs.6,000/-
c) Rs.500/-, Rs.1,000/-,
Rs.2,000/-, Rs.3,000/-, Rs.4,000/-
d) None of above
79. PMJDY LIC Insurance of Rs.30,000/-
is available for first time accounts
opened

a) On 15th
August 2014
b) On 26th January 2015
c) Between 15th August 2014
and 26th January 2015
d) None of above
80. _______ are not covered under
PMJDY Life Insurance Scheme of
Rs.30,000/-
a) Employees of Central / State
Govt. / Public Sector
Undertakings / Banks
b) Income Tax Payee
c) Aam Aadmi Bima Yojana
beneficiaries
d) All of above

Answer Key

Q. A. Q. A. Q. A. Q. A. 1 d 21 d 41 c 61 d 2 c 22 c 42 c 62 c 3 b 23 c 43 b 63 a 4 c 24 c 44 d 64 d 5 c 25 c 45 d 65 d 6 d 26 a 46 c 66 a 7 d 27 d 47 c 67 c 8 c 28 d 48 d 68 d 9 a 29 c 49 d 69 b

iibf exam question and answer in bengali pdf download

Q1. What does PMMY Stand for?
a) Pradhan Mantri Money Yojana
b) Pradhan Mantri Mudra Yojana
c) Primary Money Market Yojana
Q2. What is the maximum loan amount available under PMMY?
a) ` 5.00 lacs
b) ` 10.00 lacs
c) ` 50.00 lacs
Q3. How much loan can be availed under “Shishu” Category?
a) ` 10,000/-
b) ` 50,000/-
c) ` 1,00,000/-
Q4. Loan of ` 5 lacs is covered under which category?
a) Shishu
b) Kishore
c) Tarun
Q5. What is the purpose for which MUDRA loan can be availed for carrying on any activity
related to_______________?
a) Manufacturing, Processing, Trading, Services
b) Personal loan
c) Investment in Shares, commodities in Primary or Secondary Market
Q6. PMMY Loan is given for which purpose?
a) Income Generation Purpose
b) Consumption Purpose
c) Both of above

iibf exam question and answer

Q7. What are the Collateral /securities to be kept with Banks for getting loans for MSE under
PMMY?
a) Mortgage of movable or immovable Assets
b) Third Party Guarantee
c) NIL
Q8. Who can avail the PMMY loan?

a) Any Indian Citizen
b) Any firm, body corporate, company, or any other entity incorporated in India
c) Both (a) and (b)
Q9. From where the PMMY loan can be availed?
a) Public Sector Banks, Private Sector Banks, Foreign Banks, Cooperative Banks,
RRBs, NBFCs and MFIs
b) Directly from MUDRA

Multi Choice Questions on MUDRA Loans under PMMY

c) Both a) and b)
Q10. PMMY Loan can be availed from the bank in which_________?
a) the customer has the banking relation with the Bank
b) the customer does not have the prior banking relationship (saving / current account)
with the bank
c) Both a) and b) c)

Q11. What is the role of MUDRA under PMMY Loans?
a) MUDRA is a direct lending Institution and lends to small /micro units
entrepreneurs directly for PMMY
b) Acts as a Refinance Agency and refinances to all banks, NBFCs, MFIs for onward
lending to customers under different categories of PMMY loans, as per need of
the customer.
c) MUDRA is regulator of banks
Q12. The borrowers can avail the credit in a hassle free and flexible manner with the MUDRA
CARD which is a______________
a) Debit Card with Sanctioned limit
b) Credit Card
c) Ordinary Debit Card
Q13. MUDRA Card is a debit card on which payment platform?
a) RuPay
b) Visa
c) MasterCard
Q14. What is the use of MUDRA Card? And how it can be used?
a) In drawing cash from ATM or Business Correspondent
b) Make purchases using Point of Sale (POS) machine.
c) Both of above
Q15. Who issue the MUDRA Card to customer?
a) Banks either directly or in association with MFIs
b) MFIs directly
c) MUDRA
Q16. PMMY loans are applicable to ___________?
a) all banks all over India
b) within the Notified areas / locations in India
c) all banks all over India and abroad

iibf exam question and answer

Q17. What are the Interest rates of the PMMY loans extended by banks, NBFCs, MFIs to the
borrowers?

a) Reasonable rates decided by lending banks, NBFCs, MFIs that should fall within
the overall RBI Guidelines
b) The rates as prescribed by MUDRA
c) Uniform rates as stipulated by the RBI
Q18. PPMY Loans are provided for what Tenure?
a) 1 year
b) 2 year
c) depends on cash flows of the business and decided by the lending Institution
Q19. What is the grievance redressal mechanism available against bank officials, in the event
of non-sanction of loan?
a) The matter can be escalated to the next higher office (region / Zone) on the Bank
b) Customer can register complaint on Banks Nodal Officer-PMMY or PMMY
Mission office or PMMY Toll Free
c) Both of above
Q20. What are the documents that are required to be submitted for availing loans under
MUDRA?

a) Standard Loan Application Form
b) KYC, and other documents as may require as per internal guidelines of lending bank /
NBFC / MFI
c) Both of above
Q21. Who monitors the implementation of PMMY progress at National level?
a) MUDRA/Department of Financial Services
b) State Level Bankers Committee (SLBC)
c) Both
Q22. Where are the Frequently Asked Questions (FAQs) on PMMY Loans available for
information of the Lending Institutions/public?
a) DFS website
b) PMO website
c) MUDRA website
Q23. Sample Project Profiles for running or setting up of micro/small enterprises is available
at_______________.
a) DFS website
b) MUDRA website
c) PMO website
Q24. MUDRA has been set up by whom?

a) Government of India
b) RBI
c) SEBI
Q25. The loans sanctioned by banks/ NBFCs/ MFIs on or after _____________ upto `10 lacs
for small business income generating activities are known as PMMY loans.
a) 18-Mar-15
b) 08-Apr-15
c) 20-May-15

Q26. What is the amount of overdraft facility sanctioned under PMJDY is classified as MUDRA
loans under PMMY?
a) `5,000/-
b) `10,000/-
c) `15,000/-
Q27. Who is eligible to get the MUDRA Loans under PMMY out of following borrowers?
a) Large Corporates
b) Municipal Corporations
c) Small fruit vendors, vegetables sellers etc.
Q28. Total loans sanctioned/ disbursed under PMMY is accessible to _________ for
information of the Banks/ NBFCs / MFIs, General Public at large.
a) DFS website
b) MUDRA Portal
c) PMO website
Q29. All PMMY loans will be governed by _______________, formulated by MUDRA, in
consultation with DFS, rating agencies, MFIN and Sa-Dhan and other stakeholders for adoption
by all the lending institutions.
a) MUDRA Loan Code of Lending
b) MUDRA Loan Charter
c) PMMY Loan Charter
Q30. MUDRA scheme is applicable to which type of MSE businesses under Income Generation
purpose
a) Newly start ups
b) Existing business for expansion or upgradation
c) Both a) and b)

Answer Key

1 b) 11 b) 21 a)
2 b) 12 a) 22 c)
3 b) 13 a) 23 b)
4 b) 14 c) 24 a)
5 a) 15 a) 25 b)
6 a) 16 a) 26 a)
7 c) 17 a) 27 c)
8 c) 18 c) 28 b)
9 a) 19 c) 29 b)
10 c) 20 c) 30 c)

iibf exam question and answer

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IIBF Bank Quest (October-December 2022).pdf
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